A magnetic memory of the prior art consists of a memory cell 1 in which a tunneling magnetoresistive element (TMR element) is formed on a MOSFET, as shown in FIG. 13. The TMR element of the memory cell 1 ((T. Miyazaki and N. Tezuka, J. Magn. Magn. Mater. 139, L231 (1995)) consists of a free layer 31, an insulation barrier layer 32, and a pinned layer 33, and is connected to a bit line 212 and an electrode circuit 46. The electrode circuit 46 is connected to the source electrode 22 of MOSFETs 12 to 14 through the electrodes 42 to 45, and the drain electrode 21 is connected to the word line 211 through the electrode 41. Switching is a means, using a MOSFET, in which the magnetization direction of the free layer 31 of the TMR element is rotated by using a current-induced space magnetic field which is generated by passing a current between the bit line 212 and the word line 211 to write the information, and the information is read by the output voltage of the TMR element. Moreover, except for the magnetization rotation using the above-mentioned current-induced space magnetic field, there is a so-called spin transfer torque magnetization reversal method in which the magnetization of the free layer is rotated by passing a current directly through the magnetoresistive element, and they are disclosed, for instance, in U.S. Pat. No. 5,695,864 and JP-A No. 305337/2002.